Romanian drug producer’s shareholders get EUR 14 mln dividends

The shareholders of local drug producer Zentiva decided to allocate RON 65 million (EUR 14.2 million) from last year’s net profit as dividends. The company posted a net profit of RON 73 million (EUR 16 million) in 2016. The gross dividend amounts to RON 0.15 per share and the dividend yield is 7.1%, considering the latest share price on the Bucharest Stock Exchange, of RON 2.1. “Dividends will be paid on June 9 (the date of payment) for both bank transfer payments and cash payments," according to the company’s report. The drug producer is controlled by the French pharma group Sanofi through a Cyprus-based firm. It has a market value of about EUR 196.4 million. The company saw a turnover of about EUR 24.1 million in the first quarter of this year, up 10% year-on-year. Its net profit dropped by 10% during this period to EUR 3.9 million. editor@romania-insider.com